The Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a Request for Selection (RfS) document for procurement of power through a competitive bidding process, followed by reverse e-auction, from 250 MW grid-connected solar photovoltaic (PV) power projects. The capacity can be sourced from projects that are either under construction, already commissioned, or to be set up anywhere in India. Additionally, the bid includes a Greenshoe option for up to 250 MW of additional capacity.
The process is open to bidders who can offer a minimum of 50 MW for interstate-connected projects and 10 MW for State Transmission Utility (STU) connected projects. The selected projects must have a minimum declared Capacity Utilization Factor (CUF) of 22%, and all projects must be free from any ongoing litigation or disputes.
A pre-bid meeting will be held on January 30, 2025, and bids must be submitted online by February 10, 2025, with offline submissions required by February 12, 2025. The technical bid opening will take place on February 13, 2025, and the financial bid and reverse auction will follow at a later date.
The successful bidders will be responsible for setting up the solar PV power projects at their own cost, including obtaining all necessary approvals, permits, and clearances. The technology used in the projects will be technology-agnostic within the scope of solar PV, and only commercially established and operational technologies can be used.
Bidders can participate in the bid individually or through a Special Purpose Vehicle (SPV). The allocation of projects will be done based on an e-bidding process, followed by an e-reverse auction. Successful bidders will also have the option to increase their capacity through the Greenshoe option, which will offer additional capacity up to 250 MW, based on the lowest tariff discovered during the bidding process.
Bidders who opt for the Greenshoe option must meet specific eligibility criteria and provide the necessary documentation related to net worth within 10 days of the conclusion of the reverse auction. If the additional Greenshoe capacity is not taken up by the initial successful bidder, it will be offered to other bidders based on their ranking in the e-reverse auction.
This procurement initiative aligns with India’s broader push toward expanding its renewable energy capacity and supporting its transition to cleaner energy sources. It also provides a significant opportunity for developers to contribute to the country’s green energy goals while securing long-term power purchase agreements.
